Korea Bond Market Daily Report(Gemini): 11/15/2024
Korea Bond Market Daily Report
Treasury yields
| Treasury yields | Recent | DoD (bp) | YTD (bp) | YoY (bp) |
|---|---|---|---|---|
| 3Y KTB | 2.93% | ▼ 1.0 | ▼ 31.1 | ▼ 92.8 |
| 10Y KTB | 3.07% | ▲ 0.7 | ▼ 23.2 | ▼ 90.6 |
| Term Spread(bp) | 14.5 | ▲ 1.7 | ▲ 7.9 | ▲ 2.2 |
| Corp. AA- 3Y | 3.49% | ▼ 0.9 | ▼ 48.8 | ▼ 121.2 |
| Credit spread(bp) | 56.3 | ▲ 0.1 | ▼ 17.7 | ▼ 28.4 |
US Treasury Yields
| US Treasury Yields | Recent | DoD (bp) | YTD (bp) | YoY (bp) |
|---|---|---|---|---|
| 2Y US Treasury | 4.36% | ▲ 9.0 | ▲ 3.0 | ▼ 44.0 |
| 10Y US Treasury | 4.45% | ▲ 1.1 | ▲ 50.1 | ▲ 1.1 |
| Term Spread(bp) | 9.1 | ▼ 7.9 | ▲ 47.1 | ▲ 45.1 |
[Market Trends].
Bond Market November 14, 2024 1) US October headline CPI came in at 0.2% m/m and core CPI at 0.28%, in line with expectations. 2) US Treasury rates fell in early trade on CPI in line with expectations, but longer duration moved higher on the realization of a red sweep and hawkish Fed comments. 3) Domestic rates rose on CPI wait-and-see and net selling of Treasury futures by foreigners.
November 15, 2024 Bond Markets 1) October PPI came in at 0.2% m/m, missing expectations. Powell emphasized that there is no sign of a rush to cut rates in the current strong economy. 2) US Treasury yields rose, mainly on shorter duration, as Powell's cautiousness on rate cuts increased the likelihood of a December hike. 3) Domestic rates were mixed despite October CPI meeting expectations on fears of a red sweep materializing.
[Top economic news and events].
Top U.S. News
In October, US consumer inflation came in at 0.2%MoM and 2.6%YoY, in line with expectations. Core inflation also came in at 0.3%MoM and 3.3%YoY, in line with expectations. The increase was driven by housing-related inflation, with housing costs rising to 0.4% after falling the previous month, and OER inflation rising to 0.4% from 0.3%.
The US presidential election resulted in a red sweep for the Republicans. The Philadelphia Semiconductor Index fell -2% and semiconductor-related stocks like AMD (-3.0%), ARM Holdings (-3.5%), and TSMC (-2.7%) declined on fears of Trump's semiconductor trade tariffs.
Featured News
The number of people employed in October was 28.84 million, up 83,000 year-over-year and below 100,000 for the first time in four months. The seasonally adjusted unemployment rate was 2.7%, up 0.2 percentage points month-over-month.
Choi Sang-mok, Deputy Prime Minister and Minister of Strategy and Finance, made an oral intervention, calling for active market stabilization measures in the event of volatility in the financial and foreign exchange markets.
Other News and Events
We'll have to check to see if it's a rumor, but XRP surged more than 15% after SEC Chairman Gary Gensler released a statement hinting at a possible resignation.
Today's drop in Tesla's stock price is due to an exclusive Reuters report.
[Response Strategy].
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Disclaimer The information contained in this report has been obtained from sources believed to be reliable, but we do not guarantee its accuracy or completeness. This report is for informational purposes only and is not a solicitation or offer to buy or sell any security or financial instrument. Opinions expressed in this report are subject to change without notice. Investment decisions are the sole responsibility of the investor and you should seek professional advice as needed
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Original Post: https://aicraft.life/korea-bond-market-daily-reportgemini-11-15-2024/
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